Uncovering the illusive secrets with stocks to double your money is an endeavor that captures the imagination of many. But the quest for lucrative opportunities becomes increasingly challenging with the constant noise.Â
There are a multitude of companies with huge growth tailwinds, each representing unique potential for growth and value creation. While inherent risks certainly exist, discerning investors can search beyond traditional companies to unlock hidden value. Ultimately, your ability to manage risk and think long term will be a strategic advantage in the pursuit for financial freedom.Â
Now, let’s discover the 3 secret stocks to double your money by 2028!
Vertex Pharmaceuticals (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX) is a leading biopharmaceutical company headquartered in Boston, MA. The company closed off a strong 2023 fiscal year and new pipeline opportunities point to growth ahead.Â
Vertex is commonly known for its innovative research and treatment for cystic fibrosis. Their first cystic fibrosis treatment, Kalydeco, was approved by the FDA back in January of 2012. They would later develop Trikafta which is the most common treatment addressing cystic fibrosis. However, the main upcoming catalyst is the company’s ability to diversify their revenue streams into new treatments. This includes their recent approval of Exa-Cel in collaboration with CRISPR Therapeutics, as well as VX-548 a non-opioid treatment to alleviate acute and neuropathic pain.Â
In FY23, revenue increased 11% YOY to $9.9 billion. EPS grew 8% to $13.89 per share with growth primarily driven by Trikafta sales. The two biggest growth catalysts for the 2024 fiscal year are the anticipated FDA applications for VX-548 and Vanzacaftor Triple for CF. Wall Street is significantly undervaluing the revenue potential of VX-548, which could add tens of billions in market capitalization to the company. This is undoubtedly one of the biggest sleeper stocks to double your money in 2024.Â
UiPath (PATH)
UiPath (NYSE:PATH) stands as one of the most compelling stocks to double your money. They are a leading robotics process automation (RPA) company empowering businesses to streamline workflows and unlock greater efficiency.Â
This global software company equips organizations with tools to automate repetitive, rule-based tasks typically performed by humans. Their platform leverages artificial intelligence (AI) and machine learning algorithms to handle complex documents and decision making capabilities. Efficiency is what every organization needs, and UiPath is providing them with the intelligence to increase customer satisfaction.
While the company still remains unprofitable, that might not be for long. Management is efficiently controlling costs while seeing net loss improvements quarter over quarter. Additionally, UiPath grew revenue 24% YOY in Q3 2023, with GAAP gross margins of 85%. As the company continues to make key investments into AI, this secret stock could provide investors with outsized returns. But remember this company is still a high risk, high reward stock.
Science Applications International (SAIC)
Science Applications International (NYSE:SAIC) is an under-the-radar company operating in the aerospace and defense sector. They offer a comprehensive suite of solutions, including cloud computing, cybersecurity, and digital transformation services.Â
SAIC’s expertise spans a diverse range of fields, from mission support and analytics to artificial intelligence and digital engineering. Their client base encompasses the U.S. Department of Defense, federal civilian agencies, health services and the broader intelligence community. Demand for their services continues to remain robust, as cybersecurity threats and geopolitical tensions persist across the globe. The stock has delivered impressive returns over the last 5 years, and their backlog of $23.1 billion suggests growth to continue.Â
In their latest quarterly financial results, revenue was stagnant but the company saw significant bottom line growth. Net income increased 16% YOY to $93 million, or $1.76 per share. Net bookings for the quarter was $2.5 billion with approximately $4.0 billion of the backlog being funded. They continue to win new contracts and management raised adjusted EPS guidance for FY24 to $7.70-$7.90 per share. Business is booming, making SAIC one of the top stocks to double your money by 2028.Â
On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
